Modera Wealth Management LLC Has $13.57 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Modera Wealth Management LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,342 shares of the company’s stock after purchasing an additional 1,687 shares during the period. Modera Wealth Management LLC’s holdings in AbbVie were worth $13,566,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Groupama Asset Managment increased its position in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the third quarter worth $28,000. Fiduciary Advisors Inc. acquired a new stake in AbbVie in the fourth quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie during the 4th quarter worth $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in AbbVie during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,439 shares of company stock worth $11,377,057 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Up 2.0 %

AbbVie stock opened at $209.07 on Friday. The firm has a market capitalization of $369.09 billion, a price-to-earnings ratio of 87.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. The firm’s fifty day moving average price is $184.42 and its two-hundred day moving average price is $186.95. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $209.60. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the prior year, the firm posted $2.79 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is 273.33%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup increased their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Piper Sandler increased their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. UBS Group boosted their price target on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research report on Friday, November 22nd. Finally, BMO Capital Markets boosted their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.